6 Habits for Financial Health

Proverbs 3 tells us.

Blessed is the one who finds wisdom and understanding for the game from her is better than gain from silver in her profit better than gold by Rob Webster you ever admired a family member or friend handling their finances well and wondered what are they doing that I'm not part later gives us some possibilities today. Let's all your calls at 800-525-7000 800-525-7000. This is moneywise live biblical wisdom for your financial decisions. Well, it's always a pleasure to back to the program are too busy guy. He's VP of the college at Southeastern and in his spare time is written numerous books on life and finances for me biblical perspective joining us on the air are great to have you back on the program, Rob, it is always a pleasure. And thank you so much for what you will do and in your your ministry. I obviously pay attention to it and I am incredibly grateful for. For all that moneywise does well, it's our privilege and grateful that we can co-laborer in so many of these areas and how hard I'd love to start with your story.

You know before we get into the things you've observed about wise money management tell us a bit of your own money story. Yes, it might my money management stored my money story is actually really boring and often times when you when you hear these these financial money money stories there riddled with with mistakes and at a time when you're just in the and in the Valley and then you you're able to make some good financial decisions and help help yourself get out that through God's grace, help yourself get out of financial situation might is just not that exciting. Like I have been perfect with my finances. I certainly made mistakes, but there really wasn't a time when I made this massive bad money decision that led to my financial ruin, and in so it's just not that exciting, but I will say that I am more of the of the tortoise as opposed to the to the hair and so while my story might not necessarily be exciting.

I'm actually incredibly grateful for it. And of course this is what we do to this is that the type of story that we we hope other people have as as well see through my experiences, I've learned that sound biblical money habits can actually lead to financial health of the stuff that we talk about actually works and and so there are ordinary folks out there just like like me and their stories might not necessarily be extraordinary but their financial habits are well that's powerful and I suspect are especially knowing your dad that this was modeled for you did that have something to do with your money story without question on one of those weird ones that went when he was 16 when I was 16 opened up a Roth IRA to start saving for retirement so that's a part of my money story net that tells you because I didn't decide to simply just do that on my own. My dad talking about finances. He introduced the Roth IRA to me and encouraged me to start setting aside money for retirement when I was at a very young age, and it so I did just that. He encouraged me not to go into debt. He encouraged me to make sure that I have margin in my budget and so once again save wisely and also to live generously to use our resources to advance God's kingdom.

And so I did just that and once again the moral of my story is that if you do these things it actually actually works exactly right. And it should be an encouragement to those listening today who are parents about the impact you can have as you prepare future adults to handle money wisely and biblically understanding what God has to say about this area of our lives, which I believe has so much to do with our spiritual journey as well. Well our tower coming up on her first break but set up these six extraordinary habits of ordinary yet financially healthy, people will unpack them on the other side, but I want to hear your set up for yet so there are once again habits that we often talk about whether it's on moneywise or in that the books are the rewrite that that we see these just ordinary people that don't necessarily have a financial ruin story that they implement in their lives, and we only see where God how God uses these just ordinary habits to develop financial health in their lives. Our writers are yesterday working to help you be steady plotters on the other side of this break developing some habits that will serve you well. Throughout the rest of your life much more common moneywise live stay with us right back was live by. Rob was joining me in this segment or later VP of the college at Southeastern is a writer and teacher on biblical financing today were talking about some habits that you can put in place extraordinary habits that will help you throughout the whole of your life be financially healthy and aligned with God's word and I want you to dive in and I know you got six of them are so well. What's the first habit is of the first habit is that they give every time that they get see God has designed us to be givers is not designed us to be hoarders but to be conduits through which his generosity for his generosity.

According to the Bible is essential to managing your money. So when we give we are aligning ourselves with God's design. Greed is as we can't in our lives and greed can lead us to make all types of poor financial decisions. Ordinary yet financially healthy people give every time that they they get so that's the first one I love that in here saying we want to do that first. You and I both know. So often we give out of what's left over. Talk about the importance of establishing that rhythm upfront, both financially and spiritually yet so it's we look at scripture we see a basic financial pattern develop we are to first give generously than save wisely and then live appropriately and so is this Scripture impacts this idea of generosity tells us that we are to make giving a priority. This Proverbs 39 that we are to make sure that we are giving proportionally, meaning that we give according to what God has given us. Trips also tells us that we are to give sacrificially you can look at second Samuel 24 and when David is offered everything that he needs to provide a sacrifice. He says no I will not give to God that which cost me nothing and that of course we know the Scripture tells us that we are to be cheerful givers. God is one a bunch of grumpy givers and so Scripture tells us how we are to be generous what it looks like for us as believers in so generosity becomes the foundation upon which will biblical financial health is founded. So we see that in these ordinary financially healthy people decided to take on these extraordinary habits cards.

We want to give every time we get what's habit number two second habit that I regularly see that financially healthy people save every time the beacon and many of them do it automatically weathers through their their payroll maybe to have an automatic transfer from the checking account to their savings account. They have a portion of their paycheck go towards retirement and their emergency savings. Now one big question is how much should I set aside I get that question quite a bit. My recommendation answer, you will have your recommendations as well to set aside at least 15% of your gross income toward retirement have at least 3 to 6 months of living expenses set aside for an emergency because not a matter of if a financial emergency will happen, but a matter of when. No doubt about that.

So we want to give everyone a safe and then where do we go from here. Will the next extraordinary habit that I see, and financially healthy people is that they pay down debt every time that they get a paycheck force.

Hopefully they're trying to avoid debt, especially credit card debt. But you know sometimes things happened that required a mortgage is a type of debt and so if they do have debt.

They are aggressively trying to pay it off as quickly as possible. Ordinary yet financially healthy people know that debt is very costly skulls into the finances costly to their emotional state of the Bible tells us that debt is a burden and that we have to make sure that we make that payment is going to hang over us and even though we don't want to to maybe make that debt payment. We certainly have to affect the Scriptures tell us that those who do not pay their bills are considered wicked so we do not want to be grouped into that category obviously is a powerful force working against our financial health.

So we absolutely want to give and then we want to say, but we want to be paying down debt as quickly as possible and all of that art. The margin that allows us to do each of those first three as a result of our lifestyle, and I suspect it were to see that in our next habit.

Talk to us about that will that's absolutely correct.

One of the other habits that I regularly see in an financially healthy people is that they live on less than they make. And I know that sounds so simple, but I gotta tell you it is a massive challenge for Americans to live on less than you make. But when you do that you create this thing called margin that the difference between your income and injure expenses. Now how do they do that will usually maintain a budget and so that helps them not to spend more then they can make. My friend Blair Graham says that a budget is one of the most powerful stewardship tools available, I would certainly agree with that. See these ordinary yet financially healthy people see their paycheck is something to be spent in its entirety as a resource to manage well for the present and the future. While it sounds simple, but it's powerful in terms what it can do for you as you navigate your financial life.

Okay. Will these first few seemed basic and yet they are the foundation to everything.

There also somewhat concrete, but what about some of the less tangible habits that these folks are following well that it is going to sound strange but they keep their expectations low. Now, let me clarify what I what I mean by that. They keep their expectations low as it relates to their lifestyle expectations.

There are not ones who try to keep up with the Joneses is the unrealistic lifestyle expectations cause people to spend more than they should in fact that is now been scientifically proven when somebody in a neighborhood wins the lottery. The amount of debt goes up in that neighborhood. The bankruptcy rate goes up and that neighbors line because they're trying to keep up with the lifestyle of their neighbor that just won the lottery and so keeping up with the Joneses is a very real thing in ordinary yet financially healthy people keep their expectations low.

They don't play the game. They don't try to keep up with the Joneses.

This caused them to spend less and enjoy what they do have no doubt in social media certainly plays into that as well. As we see perhaps the best version of somebody else's life and we want to try to achieve that it often causes us to spend more than we should write what is our sixth and last habit of financially healthy people are well what I have seen over and over in others lives in in in in my life is that they don't procrastinate, meaning that they may start all these habits newly just gone through right away.

They don't they don't wait to stop keeping up with the judge. They don't wait to avoid debt, they don't wait to save money so they don't procrastinate now once again as I as I mentioned, I started saving for retirement as a teenager. Now I know that's strange and abnormal but I wish that more people could have started saving for the retirement earlier. I certainly wish the most people could have learned about retirement savings earlier and so ordinary yet financially healthy people understand the value of time. They know that there's no better time to start working on the financial picture then and right now perhaps it's not what God can get you out of. That's what God can keep you from a mess you apply these simple habits that will lead to a healthy financial life and are.

We appreciate you stopping by today to share this with my friend is always a pleasure carburetor has been our guest today.

You can find out more about him in his books and articles on God and money. A far greater.com that's RAI are your calls or next. 800-525-7000 stay with us joining us today or moneywise post. So glad you're along with us today as we explore your financial questions and decisions and do that in light of God's word which by the way has a lot to say about this topic of money or the 2300 versus 16 of 38 parables literally more than almost anything else. Jesus talked about. He focused on this particular topic or there was a money aspect of the parables and stories he was telling.

Why is that well.

I believe it's because not only it affects every area of our lives, but it has so much to other parts you know money in the way we spend. It reveals where we placed our trust in what we value it tells a story about what's most important to us and I believe as we read the Council of Scripture. It's an area of our lives that can most often compete with God for first position. The question is how do we put money in its proper role as a tool to accomplish God's purpose is not an end but a means to an end and here's one of the keys folks generosity giving is one of the keys to breaking the grip of money over our lives, but as a relates to how we handle God's money, and it is his. The earth is the Lords and everything in it.

Therefore, were stewards. The key is to go back to God's word and be able to apply his principles to how we manage it in our lifestyle and in our savings and are owing with debt, taxes, and even the money that were saving the money that were growing what is God's Word have to say. Let's explore that together with your questions and comments today.

Here's the number 800-525-7000 800-525-7000 before we take our first phone call today. Let me remind you of a great special that we have going on right now. I've talked about the moneywise out before it's our tool to help you use the latest technology to manage God's money well, but to do it in a way that fits your personality and whether using our spending tracker earlier in their reading over content of your participating in the moneywise community. It's all presented to you in the form of a mobile app that's compelling and easy to use. It's called the moneywise after find it in your app store and between now and the end of the year. We have a great reduced offer for you to become a pro subscriber so if you'd like to learn more about that just had to moneywise.org/Pro that's moneywise.org/PR oh and will look forward to you jumping into the moneywise community through the moneywise app piloted to the phones today will begin in Harrisburg, PA hi Paul, okay, hope you yes I buying here in the way and I don't know what to do my life chronically ill for four years and I later discovered what mold in our house to get it remediated in a couple weeks and is going out by time the mediation is done the rebuilding the wall of their child is dying and all that that have the new HVAC system put in looking at about $2000 and in my that would be half of my retirement savings and the other option is to have a Christian friend which a realtor and he suggested you know we could possibly need the house as it is and buy another house and just put in the contract. You know the house has mold in the picture holding the paperwork and let them decide what they want to do but we killed it. Either way, we are in a losing situation because the radiator 50 grand or that other people want to buy a house but I don't want you to remediate your own expense. Anyway, and if you buy another house will end up probably liquidating at least 75% of my retirement savings because it would take that cost the proceeds from my current houses were in order to do that and it's just very unnerving and I know I used to listen a Libra cat years ago, before he went home to be with the Lord, and he always would say you should have emergency all lost there for second but I think I got the gist of the situation, your Paul images for sale sorry and that you're having to deal with this clearly you need to get this remediated. This is a health issue for you. It would be for someone else.

The idea that you could disclose this which clearly you said you would sell prior to the remediation I believe is problematic that you will severely limit the number of potential candidates would want to take on a project like that and I think you are going through the full remediation just given the health concerns that are there and what's already demonstrated to be health issues there in your home with your wife are clearly ones that you can't ignore.

I realize this is cost prohibitive. At the very least, have you already made the decision as to the company are going to use them in. Are we beyond the bidding situation here. They've actually Artie started the work were losing you there. And unfortunately I think we've lost your audio I'm going to assume based on what I heard that we have gone beyond this, you're normally what I would say is 50,000 sounds like a lot. It's not that a bill of this kind when were tearing out walls you set a new HVAC system running.

These are costly items, but given the size and the scope of this I would want to make sure I have no at least three bids. I would also want to fully vet homeowners insurance opportunity. I realize many of them exclude mold, but in some cases, if it was a problem that was covered by your policy. That was the cause of the mold in the first place. There is a chance that the homeowners policy would step in, so I would fully vet that opportunity and then I would make sure that I have at least three bids and it will get to us.

Reputable companies in there because this is a job that needs to be done right. Given that your health is at stake. I would be looking at two options before I would be looking at pulling from the retirement account just because the implications of that with from a tax standpoint and just in terms of your ability to allow this to continue to grow so you can draw on it for the future.

If this is a home you would have otherwise stay in and it sounds like it was because your site move.

This could be costly, causing you to put more of your retirement in and just the transactions costs of selling and then buying again that's costly as well. So if you can get this back to a place where it's healthy for you to stay in.

Assuming this would have been your plan. I guess the only other thing I would ask is your could. A home equity loan be possible here where you borrow the money at a low interest rate were still in a very low interest rate environment long as that payment is one that can fit in your budget that could be a great option. You can go in there and pay it off at any time, but you're not depleting such a large percentage of your retirement assets and creating a tax consequence at the same time so I think those are the steps. Make sure you've looked in the home owners insurance coverage from your existing policy. If you have time to get multiple bids and then consider a home equity loan will certainly be praying that this resolves way to say for your family East Coast. This is moneywise live call right now. 525-7000 joined us today for moneywise live on the west coast have slides open today 800-525-7000 receiver moneywise weekly wisdom email went out today edition where I begin by talking about Isaiah 26, eight your name and written down the desires of our hearts. It will be put God first before anything else, the desires of this life. Take their proper place. We begin to have an attitude of stewardship, not ownership. And as it relates to our money. Well, we realize that money and material things are not ends in themselves. I'd love for you to get a copy of our weekly wisdom email with the recommended reads we have an article on three Social Security mistakes with another 110 ways to trim your budget in every season are trending podcasts or verse of the week and you can quickly and easily connect with a certified kingdom advisor, it's a free email goes out each Thursday. It's called moneywise weekly wisdom and it'll be in your inbox when you create a free account@moneywiselive.org to set the moneywise live.org create a free account and will get it right out to you and let's head back to the phones next Ocala, Florida hi Lori, how can I help you all and thought Florida.

I want to know right now to refinance ice on the new homeowner and rice my mortgage work with me I wasn't parent got a forbearance in October 2021 so the mortgage company to begin with, that they that it was too complicated so I called a lender from Flagstar Bank and he said he could work with me in January 20 refinance my mortgage payment of the Lord at the agreement. I'm on a very fixed income very hard to make financially. Yes. Well I would say this, Lori. It might be. So let's explore that because it might not be as well. Tell me about your current mortgage. You said you haven't been there that long hold is okay well I'm a large 11 2019 and FHA loan.

Right now the principal lady 7000 a little over 87,000 night and can't think like that. I have real hardship last year and I'm delighted with George anyway. But I think that often now I talk about an expansion in the last year and come down my mortgage payment. The 700 thank you so was it a 30 year mortgage Lori that while Mark was at a 30 year mortgage pelican 25 year 25 years and what is the interest rate at 4.85% okay you said you owe 87,000 what you think. The home is worth well up to that affect your call but I love it. One night I felt because I've always been in touch with the mortgage company that I had a mortgage lender I'm always in touch with them and he said that he value might be hundred 20,000 okay no problem and you plan on staying this in this manufacturer home for the foreseeable future for my child site disabled and I also have a life insurance policy that you here like that here a lot, and I'm concerned it's been a struggle but I I'm a monster parent and I'm not.

I don't want to check the gonna be more complicate. I want to get my vacation eat. He said that he could work lengthy wait till January because it had a three monthly clerk, they can cemented the underwriters levers very good last last question for you is what is your credit score. While my credit card I had three older the height of an online 73 very good and you have documented income. Are you on disability or what income sources do you not know the security hearing I get my bunch. Well Lori I think it would be worth you looking into a refinance.

I wouldn't want you to go above the 25 years. In fact, to be better if you went with the 20 but clearly there are interest rates is significantly lower than what you're paying today at 4.875 with the 701 score in living modestly within your means with Social Security income. What I would be interested in you looking at is a new 20 year mortgage instead of 25. You should have.

You know you've got more than 20% down so you could go with perhaps a conventional loan that would not require PMI private mortgage insurance which would help to bring the monthly cost down. That doesn't do you any good anyway. And I'd be looking for an interest rate of just above 3%. Even if you went as high as 3 1/2%. If you were able to get it down to a 20 year drop the PMI and lock it in the 3 1/2%.

You might save a little bit on your monthly payment but even if you paid exactly the same every month with the shorter term in the lower rate.

You'd end up paying less over the life of the mortgage and hopefully cut off five years so I would check with your bank and then I go to bank rate.com on the web bank rate.com and I get to bids from three other online lenders and let's see who perhaps would give you a better offer to replace this mortgage.

Make sure though you don't spend more than 2 to 3% of the loan value so you know no more than two to $3000 at the most for the cost of the refinance and they can roll that into the loan, but I certainly don't want to pay them for five or $6000 for this so check that out bank rate.com and let's see if we can improve your situation and we appreciate your call to Indianapolis, Indiana hi Jacob, how can help you to question vertical care nurse and I recently left the hospital I was working out to take a contract assignment. Aware that there is money to be made right now so you're doing so hard-working these days, that's for sure. Trying it. This was because I would like to purchase a home.

I figured that I could probably reach that goal quick. I was with that being said, though I did sacrifice an employer funded with a map and a 401(k). So my question is should I be putting as much a way that I can't potentially purchase the home. But I'm also thinking at this point. 24. I am considering opening a Roth IRA just so I can contribute something to retirement. While I don't have access to that 401(k) option. Yeah, absolutely. I like the Roth IRA a lot. That's a no-brainer. You could put in 6000 this year and then turn around and do it the right after the first of the year so I be looking to open that before December 31, although with with the Roth were traditional. You can actually contribute for that tax year up until you file your return to let's say you filed prior to April 15 next spring. You could go and contribute for 2021 and 2022. At the same time. But yeah, that's a very powerful tool is probably not as much as you would like to be putting away on an annual basis in a 500 a month or 6000 year but it's something. And I love the idea that you have that growing on a tax-deferred basis. So you've got to have more money going in as opposed to know the other deductible version which is traditional 401(k) or IRA. So I think that's a great option for you and then I think with the excess that you have continued to say, so you'll be in a really strong position is going to buy in this house and then when you get settled if new employer that has a 401(k), you could pivot back at least up to the matching portion. Jacob and then I keep on funding that Roth IRA at the same time so you're growing both the tax-deferred and the tax-free retirement vehicles alongside one another, which would give you a great opportunity so you're off on the right track are doing great work. Thank you for your service there in the medical field. During these trying times. We appreciate your call got some lines open 800-525-7000 stay with Margie moneywise live on Rob last moneywise app is the best way to manage your finances on a monthly basis with the Pro subscription you can automate and customize. The money was moneywise app to fit your unique stewardship style between now and the end of the year. We have a great limited time discount offer available to become a pro subscriber and you can check it out@moneywise.org/Pro. Let's head back to the phones today and just a moment will be in Ohio in several calls from Illinois let's go to Chicago right now. Hi Mark, how can I help you that yes or okay great. I'm sorry I'm on the road okay so I am a single father and big money all 12,000 savings and you.

That time by look for realtor but I'm wondering if you guys can I get up our purchase of a home right now Mark are you currently renting your okay and how much you looking to spend if you decided what would fit into your budget based on the amount you had to put down and what size home you be buying and then the resulting mortgage payment all my rent is 1450 and I just I can do 1600 will be more or less what I can do for mortgage 16, maybe 1730 looking to spend around 250,000 more or less yeah yeah I mean years ago I was thinking small townhouse 200 right now but I guess you 50 will be another night already got a little lower than July yes much money do you have to put down coming 12,000 savings so I guess I will want to put down 10,000 might savings at least $2000. Well, I mean I think that the challenges I would really love for you to do a couple of things. Number one is a love for you have at least a 20% down payment that's can avoid the private mortgage insurance, but that means you have to get your savings up to about 50,000 instead of 10.

So that would mean you're going to continue to rent for for the foreseeable future while you save you again.

The downside is, not only would you be coming in with less equity than I would love for you to about your coming at a time where the market is incredibly high mean what we've seen in the last decade. Not to mention just the last 24 months with housing prices as it would cut supply constraints limited inventory. We had a big boom and people moving to the suburbs buying single-family homes that perhaps previously were renting in urban areas. Now with COBIT and working remote just a whole number of factors, not to mention the incredibly low interest rates we've experienced for some time has driven housing prices up significantly and we've seen upwards of 20% growth over 12 months and that's dramatically higher than what we've seen historically. So were right now at the peak canal is again to continue to rise. Well it sure could some estimates say we could see another 10+ percent next year, but I think most of the consensus I was just talking to a friend who's an industry veteran in the space this morning and he's saying he's expecting growth growth of about 3 to 5% next year.

But that said, these already elevated levels so the question is, is this the time for you to buy. It's a challenging time because you're essentially going to be buying at a very high point in the cycle of the housing market and you're doing so with less than a desirable down payment which is going to keep your your equity very small and if we were to see a recession. The decline in housing prices. This would rollover you could find yourself in a situation where your upside down, so I realize rental prices are not any better and I think ill given the fact that you would deplete your savings down to just 2000 and you're going to have significantly less than what I would desire with a 20% down payment.

I would say let's wait this out. Continue to say now let me just tell you Mark, I know how hard it is from counseling literally hundreds of single parents over the years how hard it is to manage all of this and to keep the bills paid and to take care of the kids and save for the future minutes really challenging so I don't want to minimize that at all and I understand that you'd like to be in your own place as soon as you can, but I think you could find yourself in a situation where you've got a payment that you're stretching to make you very little to fall back on if the unexpected comes in again if we were to see a dip in the housing market, which is entirely possible in the next couple years.

You could find yourself all the sudden upside down in stock so I think for those reasons I would have to advise you to wait this out.

Continue to save limit your lifestyles, much as you can to free up as much margin as possible, and perhaps look to buy in the next couple years so I appreciate your call today.

My friend and don't hesitate to check back with us in the future. I let's stay in Chicago hi Phyllis, what can I do for you hi lending your spiritual guide financial expert with all of my 20 I'm very confused about what should be going into a safety deposit box and what should be going into a home say pray say what the banks were to close, you wouldn't be able to get you know your will or something that you would need your passport so could you please just give me some advice about should I have all in one or the other and how should I think about safety deposit box versus a home safe was a great question, Phyllis, and thank you for your kind remarks there as well. You know, I don't know that there's any need for you to have a safe deposit box at the bank mean I'm not concerned about you being unable to access it but just from a practicality standpoint. I'd rather see you have it at home as long as you do in fact have not just a safe but a fireproof safe at home because that allows you to store it right there in the comfort of your own home. You can access it when everyone and if you need to reference one of these documents that would go in there. You don't have to make a trip down to the bank.

Now I like to recommend what we call a three drawer system drawer number one, which would be those things go right into that fireproof safe or if you felt more comfortable off-site at a safety safe deposit box would be in a family documents were talking about birth certificates and marriage licenses, passports, property deeds, entitled mortgage documents personal and business contracts, insurance policies, stock certificates ill and then you know you can also do miscellaneous valuables, jewelry, antiques, collectibles, small items. You also may want to put into this.

Your Roth IRA contribution history. If you have it, because that's can be important to establish a basis if you ever need to take a withdrawal and you would be able to do that tax free of the other two drawers would be the seven year drawer for tax documents for the last seven years of tax returns and in the third drawer is the one year drawer where you're putting in the utility bills and bank statements just for the current year.

Everything else goes into the shredder but I don't think there's a real need to have the safe deposit box off-site unless you're just more comfortable with it being somewhere else, especially if there's valuables in there and you feel like that's a safety concern.

You know, because somebody were to find out that your storing in of these things in the house but apart from that, if you have that fireproof safe. I think you're all set. Some accents answered all of my question so very much Douglas you Phyllis thank you for going. I think she has the gift of encouragement and I'm grateful for that today it's a Mentor, Ohio hi Rick, what can I do for you my friend hi I just got a question about hiding. I guess my white right thing it comes to fighting it and so we always typed on what comes into our household. But when it comes to our savings and our 401(k) are locked in at that's just what he did. That's not wanting to comes in our household. That's money that goes into our date gets invested with intentions. One day when we draw that whatever we draw on we type I would just like to hear your thoughts on that as far is that the proper way to go about that are not well you know clearly that we want to be givers and I love the principle of the tithe as a starting point were giving systematically and proportionately on the increase. We want to be legalistic about it. Trying to check a box to say we've done the right thing. It's between us and the Lord.

He wants our hearts and giving is what I think calibrates us to the father but I'm not minimizing the tithe think it's a great thing to use as a starting point and I think the ties should begin with our local church. Now how do we go about that. Well if we want to honor the principal the tide were looking at our increase. We have to ask what is our increase and so you're saying you're tithing, you're giving 1/10 of everything that comes into your house sold on the gross amount so that would be prior to any contributions to health insurance premium or a retirement account contribution so you are retired on that money as it goes in.

Now as you're taking it out of investment accounts.

There's a couple ways you can go about it.

If you want to, you could just say no. And even though a portion of this is just what I'm taking out for my contributions.

I'm just still as I draw on income from it. I'm just a call that God's provision on the tithe on the full amount you can certainly do that. Another approach would be to say no poverty tithe on a portion of the Saunders can look at the games and perhaps each year I'm going to tithe on the games or if the money staying in there because were letting it grow. Yet, you could calculate the gain portion and as you take it out as a withdrawal. Perhaps you just tithe on portion you're taking out each year.

That would be the concern of the portion you consider to be the game on the accounts.

I think that's ultimately between you and the Lord but I think the end of the day when you're approaching. It sounds just fine to me. And the Lord knows you headaches for joining us today. Thank you to my team.

Eric Tidwell, Gabby T. Amy Rios and Jim Henry thank you for being here as well come back and join us tomorrow, Leah will see you then publish